Sompo International Holdings Ltd. [SI], a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that effective immediately, Mr. Christopher Gallagher, currently the Chief Risk Officer and Group Actuary of Sompo International’s Commercial Property and Casualty [P&C] business and a Director of Sompo International Holdings Ltd., will be promoted to the newly created role of Chief Executive Officer of SI Commercial P&C.

The SI Commercial P&C business represents approximately $7 billion in shareholder’s equity, $6 billion in annual gross written premiums and over 2,000 employees globally.

In his new role, Mr. Gallagher will report to Mr. Nigel Frudd, Chief Executive Officer of Sompo International and Senior Executive Vice President and Chairman of Overseas M&A for Sompo Holdings. The SI Commercial P&C executive leaders currently reporting to Mr. Frudd will now report to Mr. Gallagher.

Mr. Frudd commented, “I am extremely pleased that Chris has assumed the new role of CEO of SI Commercial P&C. As we continue to build out Sompo International with an unrelenting focus on profitable growth, Chris and the executive leadership of our Commercial P&C business will maintain our core discipline of underwriting excellence and seek additional opportunities to scale our technology and infrastructure to support this growth.

Mr. Frudd continued, “Chris brings global experience and a commercial perspective which will serve us well given the many challenges that our industry faces and which continue to evolve. Chris, along with Recai Dalas, who was recently promoted to Chief Executive Officer of Sompo International’s Retail business focused primarily on personal lines products, will be critical to leading Sompo International to become an even stronger global partner for our clients around the world.”

Mr. John Charman, Executive Chairman of the Sompo International Board of Directors, added “I am delighted that Chris has been appointed to this newly created role and that he has recently joined our Board of Directors. He brings a wealth of industry knowledge and expertise to this role and has a lengthy track record of successful leadership, both at Sompo and in his prior positions.

“SI Commercial P&C is incredibly well positioned to become a truly unique and relevant platform and a more meaningful contributor to the results of the Sompo Group. I look forward to working with Chris and our executive leadership team to make our vision for the company a reality.”

Mr. Gallagher commented, “I am honored to assume the role of CEO of SI’s Commercial P&C business. Being part of this extraordinary leadership team since 2015, I think we have an exceptional opportunity as we continue to build Sompo International, creating even greater value for our clients, distribution partners and the overall Sompo Group.”

Mr. Gallagher joined Sompo International in September 2015 as Chief Risk Officer and Group Actuary. Prior to joining Sompo International, Mr. Gallagher held a similar role at AXIS Capital and previously served as a consultant with Ernst & Young LLP providing insurance and actuarial advisory services in the London insurance market.

He started his career in the insurance and reinsurance industry in 1996 after attaining a Bachelor of Science degree in Mathematics and Statistics from the University of Glasgow. Mr. Gallagher is a Fellow of the Institute and Faculty of Actuaries in the UK.